The Price Is Right is a television game show franchise created by Bob Stewart, originally produced by Mark Goodson and Bill Todman; currently it is produced and owned by Fremantle. The franchise centers on television game shows, but also includes merchandise such as video games, printed media, and board games. The franchise began in 1956 as a television game show hosted by Bill Cullen and was revamped in 1972. This version was originally hosted by Bob Barker. Drew Carey has hosted the program since 2007. Contestants on the show compete to win cash and prizes by guessing the price of merchandise. The program has been critically successful and remains a stalwart in the television ratings. It also managed to break away from the quiz show format that has been used in other game shows. Since the current version premiered, it has also been adapted in several international formats around the world most notably in the United Kingdom, Spain, Australia, Mexico, and Vietnam. In 2013, TV Guide ranked it No. 5 in its list of the 60 greatest game shows ever. 1956–1965 The original version of The Price Is Right was first broadcast on NBC, and later ABC, from 1956 to 1965. Hosted by Bill Cullen, it involved four contestants bidding on a wide array of merchandise prizes with retail prices ranging from a few dollars (in many cases, "bonus" prizes were given to the winner afterward) to thousands. Though conducted in an auction style, Cullen did not play the role of auctioneer. Instead, contestants would try to bid as close to a product's actual retail price without exceeding that price. Depending on the prize, contestants were either allowed, in proper turn, to make multiple bids, or restricted to only one bid. In the case of the former, each contestant would bid on an item until a buzzer sounded. The contestant could make a final bid, or "freeze." The contestant whose bid was closest to, but not more than, the correct value of the prize won it. There was also a special game set aside for the home viewer that offered several prizes in a package, which usually included a luxury vacation trip and/or a new car. Viewers submitted their bids via postcards, and the winner was announced on the air. At the end of each episode, the contestant who had won the most (by dollar value) was declared the winner